Fortescue's $5bn goes to Leighton 

Fortescue's 5bn goes to Leighton

Mar 22, 2012 (Menafn - The Australian Financial Review - ABIX via COMTEX) --An offshoot of Leighton Holdings has received a A5 billion contract for the expansion of Fortescue Metals' Solomon Hub project in Western Australia. Fortescue CEO Nev Power revealed at the Credit Suisse Asian Investment Conference that two Leighton subsidiaries submitted bids for the mining services contract featuring different approaches to technology. He traced the disparity between the Australian-listed miner's share market valuation and the valuation suggested by its development plans to market doubts about Fortescue meeting its targets.

Publication Date: 23 March 2012

FORTESCUE METALS GROUP LIMITED - ASX FMG
LEIGHTON HOLDINGS LIMITED - ASX LEI
LEIGHTON CONTRACTORS PTY LTD
CREDIT SUISSE AG
THIESS PTY LTD

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